Beach Energy Limited

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce a major increase in 2P oil & gas reserves in its core Cooper Basin Western Flank Oil Fairway and Gas & Liquids Projects.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that it has acquired interests in four Wet Gas Discoveries from Bandanna Energy Ltd (ASX:BND) with additional 2P oil & gas reserves and 2C Contingent Resources in its core Cooper Basin Western Flank Oil Fairway and Gas & Liquids Projects.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) and Innamincka Petroleum Limited (ASX:INP) (PINK:IMKPF) are pleased to announce that they have unanimously agreed to merge by way of Scheme of Arrangement (Scheme) and create the Cooper Basin's leading mid-tier oil and gas company.

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) has received a A$43.2 million contingent payment from Arrow Energy (ASX:AOE) in relation to the sale of the Tipton West assets.

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) releases monthly drilling report ending 1 September 2010.

Adelaide Energy Limited (ASX:ADE) (PINK:ADEZF) has been advised by the Operator of the PEL 218 shale gas drilling program, Beach Energy Ltd (BPT), that the spudding of the first well in that program (Encounter-1) is now expected in early to mid September 2010. ADE has a 10% interest in this program and is carried through the first A$25M (gross) of expenditure thereon.

Beach Energy Limited (ASX:BPT) (PINK:BEPTF) is pleased to inform shareholders that the Ensign 16 drilling rig, after a short weather related delay, has been moved to the Encounter-1 well location and is currently rigging-up. Encounter-1, which is expected to spud early to mid September, is the first of an initial two well shale gas exploration program in the Beach operated PEL 218 in South Australia.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that it has agreed to sell its 2% Naccowlah Block Joint Venture interest and associated exploration permit ATP 259P and production licenses to Bounty Oil & Gas NL (ASX:BUY) (PINK:BYOGF) for A$1.15 million comprised of A$950,000 in cash and A$200,000 in BUY common stock.. The Naccowlah Block Joint Venture is owned by Santos Ltd (ASX:STO) (PINK:SSLTY) (55.5%) as operator, Beach Energy Ltd (ASX:BPT) (PINK:BEPTF) (38.5%), IOR Energy Pty Ltd (2%), Energy World Corporation Ltd (ASX:EWC) (PINK:EWCLF) (2%) and DLS (2%).

Adelaide Energy Limited (ASX:ADE) (PINK:ADEZF) attaches an upcoming broker presentation on its shale gas drilling program.

Drillsearch Energy Limited (ASX:DLS) (PINK:DRLLF) is pleased to announce that it has been advised by the operator, Beach Energy Ltd (ASX:BPT) that extended production testing is scheduled to resume on the Canunda Wet Gas/Liquids Discovery in PEL 106B in the South Australian Western Cooper Basin towards the end of the week of 9 August. The Canunda Wet Gas/Liquids Discovery and PEL 106B is owned by DLS (50%) and BPT (50%) as operator.